The formal ceremony at which the Awards of Merit are presented (OSCARS) is one of the most prominent award ceremonies in the world and is televisied live in more than 100 countries annually. It is also the oldest award ceremony in the media.

Guide to Betting on the Oscars

When it comes to betting on The Oscars, many Sportsbooks will tend to quote you prices on request for specific films, but the real markets for the Oscars tend to begin around December when the awards season gets underway with the Screen Actors Guilds Awards Nominations being announced.

Though other award shows such as the BAFTAS and the GLOBES may tend to be different it is rare that a film will come out of leftfield to be an OSCAR winner. So as a betting basis use the nominations, but do not be disheartened if your pick does not win at the other awards, the Oscars have shown that they are not afraid to be different and in some cases take great delight in doing so. It is far more important that you follow certain rules.

When betting on Best Picture:

A: Firstly cross off your shortlist any film in which the director is not up for Best Director.

B: Cross off Romances at the Academy Awards. It is arguable that Slumdog Millionaire and The Artist are the sole romantic flicks this century to have been chosen as Best Picture and even then they featured far more than just the love element.

C: It is rare for films focusing on a distant era to scoop the Best Picture honour at the Oscars, with five of the last eight winners set in the 21st century and another (No Country For Old Men) set only a few decades prior.

It is not just best picture markets that are available, the Oscars offer betting on a number of other markets including the Best Actor and Best Actress awards. Here we present some key pointers to look out for in these sections.

And The Award for Best Actor Goes To:

A: Anybody portraying a real person, six of the last ten winners of this award have portrayed a real person.

B: Usually somebody under the age of 50, only Jack Nicholson in 1997 (As Good as It Gets) has recently bucked that trend.

C: Someone not in the winner of the best picture. Only twice in the last ten years has this happened, although those years were the last two (2011 and 2010.)

And The Award for Best Leading Actress Goes To:

A: Someone portraying a real person, six of the last ten winners of this award have been portraying a real person, including Meryl Streep the 2011 winner.

B: An American: Six of the last eight winners of this award have been American.

C: A white woman: Halle Berry is the only non-white women to win this award.

So grab yourself some popcorn, put on your best dress or tux and settle down to watch the awards with your bets and hopefully you will be gaining some rewards of your own, not a statue, but some cold hard cash.